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March 17, 2016
Co-Living Attracts Investor Interest
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Amid the thousands of studios and one-bedrooms coming to market, a countertrend is getting a toehold in major metro areas. Call it group housing, communal living or even dorms for grown-ups, it’s a housing solution that aims to deliver a highly social, urban living experience on a millennial’s shoestring budget.

Companies offering this type of co-living experience are cropping up coast to coast. However, WeWork, the shared office space giant with more than $1.4 billion in backing from venture capitalists and money managers, is leading the mainstreaming of the concept with the launch of its WeLive housing product.

The company expects WeLive to account for roughly 20 percent of its revenue by 2018, as it houses an anticipated 30,000 residents, according to this WSJ article.  

Given increasing interest in co-living, NMHC will host a panel that explores the concept in more depth at the 2016 Spring Board of Directors Meeting in Chicago, May 18-20.

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GOVERNMENT AFFAIRS

Political Analyst Celinda Lake Joins PAC Call

The most recent PAC conference call featured political analyst Celinda Lake, a leading Democratic strategist. Lake dug into the reasons three-quarters of Americans say they are dissatisfied with how the nation is being governed and outlined major changes in the American electorate. Plus the latest PAC stats.

RESEARCH

Calculating the True Cost of Affordable Housing

HUD defines affordable housing as housing that costs less than 30 percent of a household’s income. But when necessary transportation costs are added into the mix, those percentages go way, way up.

Plus: New Geography digs into housing and transport costs as they relate to an area’s compactness

STUDENT HOUSING

2016 Income & Expense Survey Underway

NMHC's 2016 Student Housing Income and Expense Benchmarking Survey is now underway. Participation is easy and secure as possible through this NMHC web portal. Complete the survey by April 30 to receive an advanced copy of the results for free plus an additional free copy if attending the fall conference

OPINION

Evicted: Confronting Some Uncomfortable Truths

Harvard JCHS’s Chris Hebert critically examines the main messages and policy recommendations in Matthew Desmond’s Evicted: Poverty and Profit in the American City. The book is sure to “generate spirited thought and discussion,” he says.

RESEARCH

New Study Shows Land-Use Regulations Drive Income Segregation

Urban planning experts finger density restrictions as a key driver of income segregation for the wealthy and middle come but not the poor. Is more inclusionary zoning the antidote to these exclusionary policies?
In Case You Missed It
A hand-selected collection of noteworthy articles on a wide variety of issues of interest to apartment executives.
Fannie Mae: Millennials Drive Rental Boom

Software Companies Eye Airbnb, Multifamily Potential

Celebrating 20 Years of Military History Privatization Initiative (MHPI)

Builders Keep Building More Apartments, Renters Keep Scarfing Them Down

Off-Campus Dorms Now Resemble Spring Break Hotels

Apartment Absorptions Remain Strong as Completions Rise

8 Conversations Shaping Technology

Affordable Housing’s Influential Women

Rent-vs-Buy Equation Shifts for High-End Housing

Revisiting Fair Housing Compliance
Multifamily Market Dashboard

The Aging Apartment Stock

After virtually shutting down during the Great Recession, new apartment construction has finally rebounded. But while the pace of development has quickened, the rate at which new apartment homes are added to the existing stock is still rather low, meaning apartments nationwide are getting older.

The latest edition of Research Notes digs into the trend, looking at apartments by age and geography. One benefit of an aging stock is that older homes tend to be more affordable. Moreover, in areas where the stock is older and apartment demand is fairly strong while new production low, opportunity likely exists for value-add and/or rehab activity. 

 

Upcoming Meetings

2016 NMHC Research Forum

April 6-7, 2016 The Omni Hotel Chicago, IL

2016 NMHC Spring Board of Directors Meeting    

May 18-20, 2016 Four Seasons Hotel Chicago, IL

About Apartment Wire
A must-read for top apartment industry professionals, Apartment Wire is a timely review of emerging trends in apartment finance, development, management and technology and more, featuring both exclusive content from NMHC's staff of experts and provocative articles from across the web.
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